For years, TD ignored red flags from high-risk customers and created a "convenient" environment for bad actors to exploit, the government said.

Toronto-Dominion Bank (NYSE:TD) will likely face around $3B in penalties and restrictions on U.S. expansion as part of a settlement with regulators over failures to prevent money laundering, people familiar with the matter told the Wall Street Journal.

Toronto-Dominion Bank will pay almost $3.1 billion in fines and other penalties and face a cap on its US retail banking assets, after pleading guilty to failing to prevent money laundering by drug cartels and other criminals.

TD Bank is expected to pay $3 billion in fines and have its growth in the U.S. restricted as part of a settlement agreement with federal regulators, according to a report from the Wall Street Journal.

TD Bank Group (NYSE:TD) stock slid 5.4% in Thursday afternoon trading after bank agreed to pay more than $3B to settle investigations into its anti-money laundering ("AML") practices. The company and some of its U.

TD Bank will pay approximately $3 billion in a historic settlement with U.S. authorities who say the financial institution’s lax practices allowed significant money laundering over multiple years

TD Bank pleaded guilty on Thursday to failing to maintain an anti-money laundering program, among other charges.

Canada's TD Bank has agreed to pay more than $3 billion in penalties for failing to adequately monitor money laundering by drug cartels, US officials said Thursday.

Canada-based TD Bank pleaded guilty to conspiracy to commit money laundering, the largest bank in U.S. history to do so, Attorney General Merrick Garland said.

Shares of TD Bank tumbled Thursday as the Canadian bank agreed to pay more than $3 billion in penalties to resolve U.S. charges that it failed to curb money laundering by drug cartels.